Reliance Infratel IPO Subscription Soon

February 4, 2008

Reliance Infratel IPO will hit the markets soon with an Public offering of over 8.9 crore equity shares of Rs. 5 each at a price band to be decided later through the book building process. Reliance Infratel IPO DRHP is filed with the SEBI today and the company hopes to receive the approval from the SEBI soon. Reliance Infratel will dilute 10 percent stake in the company through the IPO and the company previously in July has sold 5 per cent stake to Private equity firms, the rest of the stake which is 95 percent is completely owned by Reliance Communications. Reliance Infratel IPO once listed will bring lot of unlocking to the Reliance Communication Shares as the whole company is valued at Rs. 50 to 60 thousand crore when divided will add Rs. 250 to Rs. 300 per share to the Reliance Communication share holders. Reliance Infratel  currently operates in all 23 telecom circles in India and has currently over 30000 towers under its operations and plans to expand them to 40000 towers by this fiscal. Reliance Infratel IPO proceeds will be used for constructing new towers and to finance the expansion needs. The company plans to list the shares of Reliance Infratel IPO on the BSE and the NSE. More information and updates on the Reliance Infratel IPO Issue Dates and Reliance Infratel IPO Subscription will be posted here soon once the issue hits the markets. Visit us back for Reliance Infratel IPO Details.

Posted in Indian IPOs